Homeowners March 9, 2024

The Benefits of Downsizing When You Retire

The Benefits of Downsizing When You Retire

If you’re taking a look at your expenses as you retire, saving money where you can has a lot of appeal. One long-standing, popular way to do that is by downsizing to a smaller home.

When you think about cutting down on your spending, odds are you think of frequent purchases, like groceries and other goods. But when you downsize your house, you often end up downsizing the bills that come with it, like your mortgage payment, energy costs, and maintenance requirements. Realtor.com shares:

“A smaller home typically means lower bills and less upkeep. Then there’s the potential windfall that comes from selling your larger home and buying something smaller.”

That windfall is thanks to your home equity. If you’ve been in your house for a while, odds are you’ve built up a considerable amount of equity. And that equity is something you can use to help you buy a home that better fits your needs today. Daniel Hunt, CFA at Morgan Stanley, explains:

“Home equity can be a significant source of wealth for retirees, often representing a large portion of their net worth. . . . Retirement planning can be complex, but your home equity shouldn’t be overlooked.”

And when you’re ready to use that equity to fuel your next move, your real estate agent will be your guide through every step of the process. That includes setting the right price for your current house when you sell, finding the home that best fits your evolving needs, and understanding what you can afford at today’s mortgage rate.

What This Means for You

If you’re thinking about downsizing, ask yourself these questions:

  • Do the original reasons I bought my current house still stand, or have my needs changed since then?

  • Do I really need and want the space I have right now, or could somewhere smaller be a better fit?

  • What are my housing expenses right now, and how much do I want to try to save by downsizing?

Then, meet with with me to get an answer to this one: What are my options in the market right now? As an experienced, local realtor, I can walk you through how much equity you have in your house and how it positions you to win when you downsize.

Bottom Line

Want to save money in retirement? Consider downsizing – it could really help you out. When you’re ready, connect with me about your goals in the housing market this year.

Homeowners June 24, 2023

5 Summer Interior Design Trends to Improve your Home

As summer approaches, many homeowners and interior design enthusiasts are looking for fresh and exciting ideas to update their living spaces. In 2023, we can expect to see several exciting interior design trends that are sure to make your home look and feel amazing. From bold colors and patterns to natural materials and sustainable choices. Here are some of the top summer interior design trends for 2023.

 

Bold Colors and Patterns

One of the biggest interior design trends for summer 2023 is the use of bold colors and patterns. From bright yellows and oranges to deep blues and greens, homeowners are embracing vivid hues that add energy and personality to their spaces. In addition, patterned wallpaper, bold geometric prints, and abstract designs are making a comeback, adding depth and texture to walls and floors. To incorporate this trend into your own home, try adding a colorful accent wall or statement piece of furniture, or layering bold patterns and colors with your soft furnishings.

Magenta color palette

Magenta color palette

Announced in the past December, Pantone Color Of The Year 2023 is impossible to resist! Check out Viva Magenta 18-1750 and how impactful it will be in decor.

Sustainable and Natural Materials

Sustainability is becoming an increasingly important factor in interior design, and this trend is set to continue into 2023. Natural materials like wood, bamboo, and linen are becoming more popular as homeowners seek out eco-friendly options that are both stylish and sustainable. In addition, recycled and upcycled materials are gaining popularity, as people look for creative ways to reuse and repurpose old items. To incorporate this trend into your own home, look for furniture and decor made from sustainable materials or choose pieces that have been repurposed or upcycled.

Natural materials

Natural materials

Comfortable and Cozy Spaces

As people spend more time at home, creating comfortable and cozy spaces has become a top priority for interior design. Soft furnishings like plush rugs, cozy blankets, and oversized pillows are all popular choices for creating a warm and inviting atmosphere. In addition, homeowners are incorporating more natural elements like plants and botanical prints to bring the outdoors inside. To embrace this trend, focus on creating a comfortable seating area with plenty of soft furnishings and natural accents.

comfortable Spaces

Comfortable Spaces

Open Floor Plans

Open floor plans have been popular for several years, and this trend shows no signs of slowing down in 2023. By combining multiple living spaces into one large, open area, homeowners can create a sense of flow and connection throughout their home. Open floor plans also allow for more natural light, making your home feel bright and spacious. To embrace this trend, consider removing walls or using furniture to divide your space into functional zones.

Open Floor Plan

Open Floor Plan

Maximalism

In contrast to the minimalist trend of the past, maximalism is becoming increasingly popular in interior design. This trend embraces bold colors, patterns, and textures to create a rich and layered look. Think lush fabrics, ornate decor, and eclectic collections that showcase your personality and style. To incorporate maximalism into your own home, experiment with layering patterns and textures, and don’t be afraid to mix and match different styles and eras.

Maximalism

Maximalism

In conclusion, 2023 is set to be an exciting year for interior design, with trends ranging from bold colors and patterns to natural materials and sustainable choices. By incorporating these trends into your own home, you can create a space that feels fresh, stylish, and welcoming for the summer months and beyond.

 

 

Home Buyers June 7, 2023

KEYS TO SUCCESS FOR FIRST TIME HOME BUYERS

KEYS TO SUCCESS FOR FIRST TIME HOME BUYERS

Buying your first home is an exciting decision and a major milestone that has the power to change your life for the better. As a first-time homebuyer, it’s a vision you can bring to life, but, as the National Association of Realtors (NAR) shares, you’ll have to overcome some factors that have made it more challenging in recent years:

“Since 2011, the share of first-time home buyers has been under the historical norm of 40% as buyers face tight inventory, rising home prices, rising rents and high student debt loads.”

That said, if you’re looking to purchase your first home, here are two things you can consider to help make your dreams a reality.

Save Money with First-Time Homebuyer Programs

Being able to pay for the initial costs and fees associated with homeownership can feel like a major hurdle. Whether that’s getting a loan, being able to put together a down payment, or having money for closing costs – there are a variety of expenses that can make buying your first home feel challenging.

Fortunately, there are a lot of public and private first-time homebuyer programs that can help you get a loan with little-to-no money upfront. CNET explains: 

“A first-time homebuyer program can help make homeownership more affordable and accessible by offering lower mortgage rates, down payment assistance and tax incentives.” 

In fact, as Bankrate says, many of these programs are offered by state and local governments:

“Many states and local governments have programs that offer down payment or closing cost assistance – either low-interest-rate loans, deferred loans or even forgivable loans (aka grants) – to people looking to buy their first house . . .” 

To take advantage of these programs, contact the housing authority in your state and browse sites like Down Payment Resource.

 

The Supply of Homes for Sale Is Low, So Explore Every Possibility

It’s a sellers’ market, meaning there aren’t enough homes on the market to meet buyer demand. So, how can you be sure you’re doing everything you can to find a home that works for you? You can increase your options by considering condominiums (condos) and townhomes.

U.S. News tells us these housing types are often less expensive than single-family homes:

“Condos are usually less expensive than standalone houses . . . They are also less expensive to insure.”

One reason why they may be more affordable is because they’re often smaller. But they still give you the chance to get your foot in the door and achieve your dream of owning and building equity. Beyond that, another major perk is they typically require less maintenance.

 

As U.S. News says in the same article:

“The strongest reason for purchasing a condo is that all external maintenance is usually covered by the condo association, such as landscaping, pool maintenance, external painting, paving, plowing and more. This fee also covers some internal maintenance, such as gas, electric, plumbing, HVAC and other mechanical systems.” 

Townhomes and condos are great ways to get into homeownership. Owning your home allows you to build equity, increase your net worth, and can fuel a future move.

The best way to make sure you’re set up for success, especially if you’re just starting out, is to work with a trusted real estate agent. They can educate you on the home buying process, help you understand your local area to find options that are right for you, and coach you through making an offer in a competitive market.

Bottom Line

Today’s housing market provides some challenges for first-time homebuyers. But, there are still ways to achieve your goals, like utilizing first-time homebuyer programs and considering all of your housing options. Connect with me today and have an expert on your side who can help you navigate the process.

 

Resource: Keeping Current Matters

Homeowners May 15, 2023

10 Cosmetic Tips to Sell Your Home in Record Time

CAUTION: Project results may make your home so beautiful, you won’t want to leave.

 

Add a Fresh Coat of Paint

You might be a fan of burgundy bedroom walls but chances are, the mass population won’t feel the same. Head to the home improvement store for a few gallons of a light, neutral paint to appeal to the mass market. Light gray, beige and classic white are all fool-proof picks.

Fresh paint

Fresh paint

Add Crown Molding

Install crown molding to woo prospective buyers as soon as they step through the door. This traditional, cosmetic update is easy to DIY and has the power to give a space a polished and stable appearance. Who wouldn’t want that, right?

Crown Molding

Crown Molding

Install New Hardware

Toss any dated or tarnished cabinet pulls and replace them sleek, nickel or brushed brass hardware to give your kitchen and baths a current and clean look. The key to success is to stick to hardware with simple or classic silhouettes that speak to the architectural style of your home.

 

New Hardware

New Hardware

Stain the Floors

Bring your beautiful hardwood floors back to life by adding a few coats of dark stain. We love this trick because not only does it give your home a handsome, fresh look but it also disguises years of wear-and-tear.

Stain the Floors

Stain the Floors

Slap on Subway Tile

Don’t let grimy and/or dated tile be the reason prospective buyers walk away without putting in an offer. Roll up your sleeves and install some crisp, white subway tile to give your kitchen or bath a fresh, universal look that works with many different design styles. Don’t forget to refresh existing tile by cleaning or touching up worn or stained grout.

Cool kitchen tiles

Cool kitchen tiles

Update Ceiling Fans + Light Fixtures

No one wants that dated ceiling fan from 1987 and they certainly don’t want the glossy, brass chandelier that comes with it. Invest in replacing any dated ceiling fixtures in the home, prioritizing the high traffic areas first.

Ceiling Fan & Light Fixtures

Ceiling Fan & Light Fixtures

Paint the Kitchen Cabinets

Unfortunately, orange-y oak cabinets from circa 1993 aren’t doing so hot in today’s real estate market. Bring your cabinets into the 21st century with a fresh coat of paint. Be sure to stick to fresh, neutral colors like dove gray or a classic white hue to appeal to the masses.

Painted cabinets

Cosmetic upgrade #1 painted cabinets

Update Bath Fixtures

Roll out the red-carpet treatment and treat buyers to new, fancy bath fixtures. Shop for fixtures that have an enviable spa-like quality, and be sure to use a timeless finish such as nickel or brushed brass.

Bathroom fixture

Curb appeal

You’d be surprised at the impact that a Saturday spent in the yard can do for your home’s curb appeal. Head out to your home improvement store and pick up a handsome, new mailbox and a few manicured shrubs to give your home an inviting and elegant appearance.

Curb appeal

Create a Pretty Patio

Take your talents outdoors. Draw buyers in with a simple, DIY paver patio, budget-friendly dining set and some festive string lights. A few potted posies and a pretty outdoor rug will help paint the picture of what their life could look like if the buyers purchase your home.

Pretty Patio

Pretty Patio

For more tips and ideas please reach out to Ursula directly, she is more than happy to consult you for your home.

Others March 2, 2023

5 Tips for a Healthy Work-From-Home Routine

 

 

If you’re looking for ways to improve your 9-to-5 routine, try these five simple ideas

 

 

Higher productivity, less stress, more free time – working from home offers plenty of benefits. It also comes with the challenge of rethinking your daily habits while prioritizing your mental and physical health. If you’re looking for ways to improve your 9-to-5 routine, try these five simple ideas.

1.Bring the Outdoors in

We all have an innate need to connect with nature, and organic materials, shapes and colors have been proven to positively affect our mood. If possible, set up your office near a window and incorporate biophilic design elements into the space. A rug made of natural fibers would be perfect to put your desk and chair on. You could hang up artwork or a wall calendar that features outdoor scenes. Plants also help create a calming vibe with the added benefit of improving air quality.

  1. Get Comfortable

Sitting for long periods of time can lead to serious aches and pains, so you want to carefully consider your office setup. Invest in a comfortable chair that offers lower back and arm support and pair it with a desk that can be adjusted for standing or sitting. You also want to maintain good posture, so position your keyboard at or just below elbow height and parallel with your forearms. Using a mouse pad with wrist support is another easy way to lessen muscle strain.

  1. Keep Moving

Although your job may require you to be in front of a computer for most of the day, you don’t have to remain totally sedentary. Try swapping your chair for a yoga ball. A balance board allows you to strengthen your core muscles while standing, and an under-the-desk elliptical machine is a great option for light cardio. You could also walk around while you’re on the phone and do some simple stretches during breaks to help shake off stiffness.

  1. Stay Hydrated

To keep your energy up through the afternoon, you should avoid high-caffeine beverages that temporarily perk you up but make you crash later. Opt instead for mineral water, which comes in a variety of flavors, herbal tea or organic energy drinks. You could also invest in a smoothie blender and create your own delicious combination of fruits, grains and yogurt to enjoy as a late-day treat.

  1. Relax When the Day is Done

Allowing yourself time to wind down from a busy schedule is very important. When you’ve logged off for the day, go for a bike ride, head to the gym or take your dog to the park. Half an hour of low-impact yoga in a designated “relaxation zone” is another healthy way to destress and mentally prepare yourself for tomorrow’s challenges.

As you continue to improve your work regimen, always keep your mental and physical wellbeing in mind. Establishing good habits ensures a happy and sustainable professional life.

HEALTH WELLNESS WORK FROM HOME

 

Homeowners March 2, 2023

Home Design Trends for 2023

Elevated Escapes and Outlandish Elements

In recent months, the world has re-energized, and hope has bloomed in ways that many had not experienced since before this decade began. In contrast, shifting economic and global conditions have awakened and heightened certain sensitivities. This age of extremes has given way to a curious range of design ideas. From eclectic and new to natural and nostalgic, here are some of the most notable home design features and themes we expect to see in the year ahead:

 

Bring the vacation to you

After nearly two years of limited travel, a sense of wanderlust has arisen for many. Yet, rather than actually traveling to fulfill this urge, savvy decorators have opted instead to create an escape within the residence. With a continued desire to revel in the comforts of home, many have embraced the idea that venturing out truly isn’t necessary to achieve that breezy, revitalizing experience. Using warm wood tones, bright light and airy linen curtains and furnishings, abodes will have rooms – both indoors and out – transformed in the style of beachy resort destinations and dreamy European villas.

Connect to nature and the present

People are recognizing the need to be more present and peaceful in the moment and are erring toward pragmatic sensibilities in lifestyle and functionality. Fostering security and balance continue to be key, but with an emphasis on the senses – which translates into the use of natural textiles and rare materials in home décor such as crude clay, terra-cotta, handcrafted finishings and glazed tiles made from organic materials. Color schemes are inspired by nature and the desert theme has gained in appeal, incorporating gentle colors such as beiges and greys. The trend additionally translates to comforting, tactile interior designs that blend organic shapes, arches and irregular forms to create a cozy, warm aesthetic. Such biophilic design will continue as a trend. In fact, you may even consider adding a full-sized tree to the kitchen – olive trees are favored – to add an impressive fixture and create a Mediterranean or rustic vibe.

Embrace opulence and idiosyncrasy

In a distinctly disparate tone, an “anti-neutral renaissance” has simultaneously gained traction, influencing home interiors. For those on this opposite end of the spectrum, minimalist fatigue has set in, driving the desire for extravagance and affecting a mood for glamour. A major theme for the new year is celebrating individuality, so unique touches, unconventional decorative fabrics and elements will reign. Think luxe jewel tones, whimsical details and embellishments galore. Expect striking visual effects in homes such as curvy and geometric shapes, fanciful rugs, monochromatic rooms in vivid shades like baby pink – as well as two-toned cabinets in contrasting colors. Emerald green, cobalt and rust are expected to be top interior colors in the coming year. Hellenism and antiquity will also see a surge in popularity, so Corinthian-style furnishings, statues and wallpaper motifs will be highly sought after.

Statement stone.

Combining aspects of the two aforementioned trends, another desirable style in 2023 will be the use of unexpected stones in surprising ways. Anticipate colorful marble in creative reds, corals, deep blues and jewel tones. Exotic types of porcelain, soapstone and granite will be used throughout the home in a variety of ways: Subtly – as serving platters, side tables or nightstands – and dramatically – as accent walls, tables, bathtubs or countertops that transition into bold backsplashes – to incorporate as standalone art or a stunning focal point.

Whether you feel like a daredevil or crave simplicity, this year boasts a menu of delights to fulfill the moods and needs of many appetites. We hope you’re inspired to customize and love your residence more than ever this year.

Homeowners March 2, 2023

Savvy Ways to Increase Your Home’s Value

Here are a few of our favorite impactful and straightforward means of boosting your home’s value and appeal over the short or long term.

 

Whether you plan to be in your home for just a few more months or many more years, there are plenty of efficient ways to maximize your space and increase its value. This type of investment needn’t require a loan, nor does it have to span any great length of time. From green living to greenery in your yard, here are a few impactful and straightforward means of boosting your home’s value and appeal over the short or long term.

A Smart Move

Green is the new black. Any form of energy efficiencies and conservation in your home will inevitably be a fiscal gain. Whether you install energy-saving window treatments or solar panels, both options can reduce utility expenses for you and any future inhabitants. When it comes time to replace appliances, a prudent decision would be to select a “smart” model of said item, which can significantly lower long-term energy costs.

While on the topic of efficiency, a wise investment would be installing “smart” devices throughout your property. Think digital features such as automated blinds or shades, security cameras, door locks, security lighting and thermostats. When you’re ready to sell, the smart tech will appeal to buyers with a penchant for the added value of convenience and connectivity.

Wide Open Spaces

Create visual space in rooms by keeping them clutter-free and organized, which can be solved by simply installing a stylish shelving unit to keep extraneous items out of sight. Seek the help of a professional organizer who will be bursting with innovative ideas to optimize the storage areas in your dwelling.

Another way to increase square footage without a renovation is to let the sunshine in! Avoid heavy drapes and instead, use modern window treatments that add height such as roller, Roman or cellular shades. Similarly, you can position a decorative floor-to-ceiling mirror in any room to visually double your space.

From the Bottom Up

Explore the possibility of replacing the flooring in a few key spaces. A unique, beautiful and buzzworthy material is cork, which is also known to have antibacterial properties. If you opt for new surfaces under your feet, consider installing radiant heating simultaneously. These systems not only add optimum comfort, but are also aesthetically pleasing and energy efficient.

Make an impact through your lighting choices. Utilize contemporary or dramatic fixtures to complement each room. Whether you choose minimal or eye-catching designs – the right piece in the optimal locale can add intrigue and substance to your residence.

Kick It Up a Notch

Significant updates to your kitchen and bathroom are sure to boost value. Modern appliances and updated décor increase appeal to buyers, so consider a new backsplash or that roomy farmhouse-style sink you’ve been eyeing. Think one step further and install a water filtration system to add practicality and luxury to your dwelling. Additional elements like stylish sconces, a new vanity or a vintage mirror can elevate functionality and increase allure.

It’s Only Natural

Consider your front and backyard. If there is an area that would benefit from some striking landscaping or creative plantings, explore your options or consult with a professional landscape architect or designer. Executed well, a garden or other natural elements in your yard can become lovely extensions of your home’s indoor atmosphere.

When you look around, there are many ways to enhance the comfort and appeal of your property that will serve you well as a resident – and add value one day when you’re ready to sell.

Financing July 21, 2022

Things to avoid after applying for a loan

 

Once you’ve applied for a mortgage to be able to buy a home, there are some key things to keep in mind. While it’s exciting to start thinking about moving in and decorating, be cautious when it comes to making any big purchases. Let us have a look at things you should avoid after applying for your home loan.

Don’t Deposit Large Sums of Cash

Lenders need to source your money, and cash isn’t easily traceable. Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer.

Don’t Make Any Large Purchases

It’s not just home-related purchases that could disqualify you from your loan. Any large purchases can be red flags for lenders. People with new debt have higher debt-to-income ratios (how much debt you have compared to your monthly income). Since higher ratios make for riskier loans, borrowers may no longer qualify for their mortgage. Resist the temptation to make any large purchases, even for furniture or appliances.

Don’t Co-Sign Loans for Anyone

When you co-sign for a loan, you’re making yourself accountable for that loan’s success and repayment. With that obligation comes higher debt-to-income ratios as well. Even if you promise you won’t be the one making the payments, your lender will have to count the payments against you.

Don’t Switch Bank Accounts

Lenders need to source and track your assets. That task is much easier when there’s consistency among your accounts. Before you transfer any money, speak with your loan officer.

Don’t Apply for New Credit

It doesn’t matter whether it’s a new credit card or a new car. When you have your credit report run by organizations in multiple financial channels (mortgage, credit card, auto, etc.), it will have an impact on your FICO® score. Lower credit scores can determine your mortgage interest rate and possibly even your eligibility for approval.

Don’t Close Any Accounts

Many buyers believe having less available credit makes them less risky and more likely to be approved. This isn’t true. A major component of your score is your length and depth of credit history (as opposed to just your payment history) and your total usage of credit as a percentage of available credit. Closing accounts has a negative impact on both of those aspects of your score.

Consult an Expert

To sum it up, be upfront about any changes when talking with your lender. Blips in income, assets, or credit should be reviewed and executed in a way that ensures your home loan can still be approved. If your job or employment status has changed recently, share that with your lender as well. Ultimately, it’s best to fully disclose and discuss your intentions with your loan officer before you do anything financial in nature.

Bottom Line

You want your home purchase process to go as smoothly as possible. Remember, before you make any large purchases, move your money around, or make any major life changes, be sure to consult your lender – someone who’s qualified to explain how your financial decisions may impact your home loan.